United States 113th Congress Status: Died 1 R cosponsors

HR 947 — Small Business Accounting and Tax Simplification Act

Last action — Referred to the House Committee on Ways and Means.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Small Business Accounting and Tax Simplification Act - Amends the Internal Revenue Code to exempt certain small business taxpayers from the requirements of using the accrual method of accounting and of using inventories. Allows such taxpayers to use a cash method of accounting if they meet the gross receipts test and are not engaged in farming as a corporation. Increases the amount of the gross receipts test to $10 million (currently, $5 million) and permits an annual inflation adjustment of that amount.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 947 on the official United States source →

Action History

  1. Referred to the House Committee on Ways and Means.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
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Frequently asked questions

What does HR 947 do?
Small Business Accounting and Tax Simplification Act - Amends the Internal Revenue Code to exempt certain small business taxpayers from the requirements of using the accrual method of accounting and of using inventories. Allows such taxpayers to use a cash method of accounting if they meet the gross receipts test and are not engaged in farming as a corporation. Increases the amount of the gross receipts test to $10 million (currently, $5 million) and permits an annual inflation adjustment of that amount.
Who sponsors HR 947?
HR 947 is sponsored by Aaron Schock (R).
What is the current status of HR 947?
This bill died with 113th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 947?
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Last checked for changes about 16 hours ago · updated continuously

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